Fed's George says wants slow but sure progress on raising rates

Kansas City Federal Reserve Bank President Esther George said on Wednesday that she wants to raise interest rates "slowly but surely," but said that doing so does not mean she wants to put the brakes on U.S. economic growth.

Instead, George, who spoke at a forum for minority bankers, said she wants to make sure that the Fed raises rates slowly now so it does not have to raise them quickly later. George was one of three policymakers who dissented on the Fed's decision last week to leave rates unchanged so as to allow the economy more room to generate jobs and inflation.

(Reporting by Ann Saphir; Editing by Leslie Adler)

Next In Business News

BATON ROUGE, La. U.S. President-elect Donald Trump on Friday said that China and other countries often devalue their currencies as the U.S. economy improves, vowing to combat currency manipulation and the dumping of foreign products into U.S. markets below cost.

BEIJING/NEW YORK Oil traders and major producers are lining up a flotilla of carriers to ship more U.S. crude to Asia in December than in nearly two decades as higher prices, supported by OPEC's proposed supply cuts, offer a rare opportunity to boost sales to the region.